Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Monday, September 26, 2022

Agro-forestry-fishery exports on track to surpass yearly target

Updated: 10:00’ - 06/07/2022
Vietnam earned USD 27.88 billion from agro-forestry-fishery exports in the first half of this year (H1), up 14 percent year-on-year despite the difficulties and impact of the world economic environment, according to the Ministry of Agriculture and Rural Development (MARD).
 
Of the sum, exports of key farm produce and forestry products reached USD 11.37 billion and USD 9.1 billion, surging 8.8 percent and 3 percent year-on-year, respectively, fishery products hit USD 5.8 billion, up 41 percent annually, while that of livestock reached USD 176 million, down 16 percent, and production input topped USD 1.42 billion, up 65 percent.
 
Pineapples are being processed for export at a Dong Giao Foodstuff Export JSC factory in Gia Lai Province__Photo: VNA

Nine types of goods recorded an export revenue exceeding USD 1 billion in the period: coffee, rubber, cashew, fruit and vegetable, rice, tra fish, shrimp, wooden goods, and inputs for production.
 
Items which saw increases in both export volume and value included coffee, up 22 percent and 50 percent respectively; cassava and cassava products (13 percent and 28 percent); rubber (9.2 percent and 12 percent) and rice (16 percent and 5 percent).
 
During the first six months, the US, China, Japan and South Korea remained the four biggest importers of Vietnamese agro-forestry-fishery goods.
 
Typically, the US took the lead with a turnover of USD 7.61 billion, up 8 percent year-on-year or equivalent to 27.3 percent of the country's total export value. MARD said that China ranked second with USD 4.97 billion, a yearly hike of 6 percent or 17.8 percent of the total.
 
Also, in the first half, Vietnam spent about USD 22.1 billion on purchasing agro-forestry-fishery products, creating a trade surplus of approximately USD 5.75 billion, nearly double the figure posted in the same period last year.
 
The encouraging outcomes were attributable to mechanisms and policies for trade promotion, negotiations for reopening, and market development to promptly solve problems and then promote the export of agro-forestry-fishery products, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
 
Amid the impact of the pandemic and the Russia-Ukraine conflict which disrupted the global agricultural supply chain, MARD and its units have researched and taken advantage of opportunities from FTAs ​​to promote agricultural exports while grasping the situation of production, processing and consumption of agricultural products, Tien said.
 
Top priority was also given to solving technical barriers of markets and promoting international cooperation and expanding markets for agricultural and seafood exports, he said.
 
The efforts have brought good results. The US has approved six additional businesses, bringing the total number of Vietnamese enterprises that have been eligible to process and export pangasius (tra fish) to the market up to 19.
 
The EU allowed 21 other enterprises, lifting the total number of eligible seafood exporters to 660. Meanwhile, the Eurasian Economic Union approved a total of 77 firms from Vietnam and China allowed 779 seafood enterprises.
 
With these positive performances in H1, the ministry expects the country's agro-forestry-fishery exports to reach USD 55 billion by the year-end, USD 5 billion higher than the Government target.
 
Significantly, the forestry export turnover will likely reach over USD 17 billion by the end of this year, far exceeding the set target of USD 16 billion, said Nguyen Quoc Tri, General Director of Vietnam Administration of Forestry.
 
To achieve this new goal, the industry will implement solutions to boost key export products which have potentials to increase export value, MARD said, adding that it would regularly provide information on prices, output, and production and supply of agricultural products and suggest solutions to remove the congestion of farm produce at the border gates.
 
Furthermore, it will continue to negotiate and promote the export of passion fruit and grapefruit to Australia; rambutan, star apple, custard apple, cassava slices, sugar and milk to Thailand; lemon and grapefruit to New Zealand; and bird's nest, feather products and fish meal to China.
 
Exploring more export opportunities in countries with complementary product structures with Vietnam, such as Japan, South Korea, India and the EU, and other lucrative outlets like Russia, the Middle East, Africa, and ASEAN will also be included.- (VNS/VLLF)
 

Send Us Your Comments:

See also:

Video

Vietnam Law & Legal Forum